Press Release

    Olam Palm Gabon Enters into Sale of Long Term Lease Rights of Land and Sale and Lease-Back of Plantation and Milling Assets in Awala for US$130m

    Press release

    Olam Palm Gabon (“OPG”), the 60/40 joint venture company between Olam International Limited (“Olam” or “the Company”) and the Republic of Gabon, has entered into a sale of long term lease rights of land and a sale and lease-back of plantation and milling assets, comprising 20,030 hectares of total land area in Awala, Gabon and including 6,502 hectares of planted area, for a cash consideration of US$130.0 million with YCAP Asset Management (“YCAP”).

    Under this agreement, YCAP holds the rights to the long term leases on the land. The agreement is valid for a period of 18 years, extendable for another three years at the request of either party.

    OPG retains the right to operate the palm plantation and mill in Awala and will therefore continue to participate in the production economics of the palm plantation without the asset intensity.


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